Guideline Value for PASUMARTHI LANE

Pasumarthi Lane guideline value

The current guideline value of Pasumarthi Lane in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Pasumarthi Lane has changed

The guideline value for Pasumarthi Lane has seen several revisions over the years. In 2003, the value was Rs 931 per sq.ft, which increased to Rs 1,300 per sq.ft in 2007. Following this, the value rose significantly to Rs 5,300 per sq.ft in 2012, before dropping to Rs 3,551 per sq.ft in 2017. The 2023 revision set it at Rs 5,300 per sq.ft, and the latest revision in 2024 has increased it to Rs 5,800 per sq.ft.

Between the revisions, the most notable changes include a 308% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. The guideline value has increased by 9% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has risen by 523%. The register has no figure for the year 2002 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the current guideline value of Pasumarthi Lane.

• Pasumarthi Street: Rs 7,100 per sq.ft (2024)
• Patel Street: Rs 7,100 per sq.ft (2024)
• Park View Road: Rs 8,200 per sq.ft (2024)
• Pari Street: Rs 5,000 per sq.ft (2024)
• Parangusapuram Street: Rs 7,100 per sq.ft (2024)
• Parameswari Colony: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Pasumarthi Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, resulting in a total of Rs 5,22,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Pasumarthi Lane?

The Sub Registrar Office that covers Pasumarthi Lane is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Puliyur

The guideline value plays a crucial role in the registration of property transactions in Puliyur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential to understand that the guideline value is determined by the government and is subject to periodic revisions. Buyers and sellers should always refer to the latest guideline value to ensure compliance with the legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Pasumarthi Lane?

The current guideline value of Pasumarthi Lane is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 931 per sq.ft in 2003 to Rs 5,800 per sq.ft in 2024, with several revisions in between, including increases and decreases in value.

What is the registration office for Pasumarthi Lane?

The registration office for Pasumarthi Lane is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Pasumarthi Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be calculated at 7% of Rs 58,00,000.

Where can I find more information about the guideline values in Puliyur?

More information about the guideline values in Puliyur can be found in the Registration Department's guideline value register (TNReginet) or by visiting the Kodambakkam SRO.